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Your Weekly Trading Review by UFX.com – Sunday, December 17th, 2017
Some of this past week’s leading economic news and events affected the financial markets:
The EUR/USD and GBP/USD both fell by -0.25% and -0.83%, respectively. Gold enjoyed a slight increase of 0.03%, while Crude Oil also rose in value by 0.46%.
The 3 major US indices all ended the week down, disappointing investors across multiple markets. The Dow dropped by -0.17%, the S&P decreased by -0.20%, and NASDAQ fell by -0.38%.
Disney to Acquire Fox for a Whopping $52 Billion
The Walt Disney Company has announced plans to acquire a large percentage of 21st Century Fox for a record $52.4 Billion. Disney’s statement came on Thursday on the heels of a regulatory filing in US court, as the deal is still subject to regulatory approval by the US Justice Department. After the news hit, DIS stock rose by 1.8%, while FOX rose by 3%.
China and Britain Closer to Joint Stock Exchange
Britain’s Finance Minister Philip Hammond paid an official visit to China this past Saturday. The possibility of a joint stock exchange between the 2 countries was on the table during the meeting with Chinese Vice Premier Ma Kai. Both leaders expressed the importance of supporting and strengthening startups and innovative companies, which would be mutually beneficial to both China’s and the United Kingdom’s economies.
That’s our summary of the financial headlines from the past week. Good luck with this week’s trading and stay tuned for the next review from UFX.com.